David Placek: evaluation

Transcript context

…I'm glad they went with Azure. Let me actually ask this question. I know you're biased, but just how important is a great name? If you had a better name than a product that was better than you, does that make a big difference? Just anything you can share there to help people see this is the power of a great name. Let's look just at the reality of this. Your brand name, whether it's a product name or a company name, nothing's going to be used more often or for longer than that name. Design will change, messaging will change, products will change, but that name is there. So, I like to talk about this idea of cumulative advantage. Over time, as people buy more and more of the product, they see it more often, that their bond between you and that brand, or them and the brand I should say, becomes stronger and stronger. So you want that name to stick in their mind to be distinctive, because distinctiveness is what creates that cumulative advantage. The second thing is this notion of what I call asymmetric advantage. It makes perfect sense, and most clients agree with this when we say this is that even before you launch this brand, why not start with an advantage in the marketplace? And you won't get an advantage if you're descriptive. If you are Cloud Pro and there's 10 other cloud services, you're not going to stand out in the marketplace. You won't have the ability to create necessarily that cumulative advantage in the marketplace. So, those are my two reasons why names are, I think, done right. And we do talk about our mission is not creating good names. A lot of people can do that. Our mission is to create the right name for clients, because the right name does deliver asymmetric advantage and cumulative advantage for you. And that, for us, has almost unlimited value. This is a great answer. Essentially what you're saying is it's not going to necessarily make or break you, but it gives you an advantage. A great name gives you an advantage, especially if you're just getting started. You need every advantage you can get.…

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